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Nate Geraci Expects Spot Ethereum ETF Approval This Week
Nate Geraci, president of ETF Store, predicts the imminent approval of the spot Ethereum (ETH) exchange-traded fund (ETF).
Analysts and industry leaders, including Bitwise Asset Management’s Matt Hougan, have echoed Geraci’s optimism. They believe the approval could generate significant interest and investment in Ethereum, potentially reshaping the market and the broader cryptocurrency industry.
Industry experts predict major impact of potential spot Ethereum ETF
Nate Geraci has generated considerable interest in the cryptocurrency community Anticipating approval of Ethereum spot ETFs this week. Geraci shared his expectations on social media.
“Welcome to ETH Spot ETF Approval Week… That’s what I call it. I don’t know anything specific, I just can’t find a good reason for a further delay at this point. The issuers are ready to launch,” he said. he wrote.
To know more: Ethereum ETF Explained: What It Is and How It Works
Geraci’s prediction follows extensive discussions and regulatory filings surrounding the Ethereum ETF. In an appearance on CNBC’s ETF Edge last week, Geraci, along with Matt Hougan, discussed the likelihood and implications of the ETF’s approval.
As one of the potential issuers, Hougan highlighted the minimal changes required in latest declarationsThis indicates that we are getting closer to the approval goal.
“That [the minimal amendments] tells us that we are getting close to the finish line. I think what you will hear this week or next week makes sense to me. It has been a very fast process. Remember, just two months ago, no one thought we would see these ETFs. Now it seems likely that we will. And we will see what the response is,” Hougan noted.
Geraci also highlighted the growing interest in cryptocurrencies among institutional investors and financial advisors. He noted that despite current market conditions, demand for Ethereum could mirror THE Bitcoin ETFs see remarkable success.
“Bitcoin spot ETFs have been the most successful ETF launch in the history of the industry, if you look at the 10 or 11 ETFs that have come to market cumulatively. I think Ethereum spot ETFs might be the second most successful launch ever,” Geraci said.
Italian: https://www.youtube.com/watch?v=Js16_GTpKXY
Additionally, market analysts believe that ETH could experience positive price action following the spot launch of the Ethereum ETF. Cryptocurrency trader Daan Crypto suggested that the approval could be a bullish sentiment.
“ETH so far so good. We’re getting close to that $3,350 level. We should get S-1 approvals this week, with ETFs starting to trade soon after,” he said. noticed.
ETH price trend. Source: X/DaanCrypto
Michaël van de Poppe, founder of cryptocurrency advisory firm MN Trading, echoed this sentiment. He highlighted Ethereum’s recent performance and its outperformance of Bitcoin. Van de Poppe suggested that the Ethereum ETF could further push its market dominance.
“The next Ethereum ETF will likely push it even further, through which the potential bearish divergence on the weekly timeframe looks inevitable,” he said. explained.
To know more: How to invest in Ethereum ETFs?
Furthermore, industry experts believe that the Ethereum spot ETF will push other crypto ETFs to emergeBeInCrypto reported that earlier this month, the Chicago Board Options Exchange (CBOE) unveiled the Form 19b-4s for Solana Spot ETF Trading for the first two issuers, VanEck and 21Shares. However, the U.S. Securities and Exchange Commission (SEC) would have until 2025 to respond to the request.
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